Invesco Canadian Preferred Share Index ETF

PPS is a passively managed fund that tracks an index of TSX-listed preferred shares issued in Canada. To be eligible for inclusion in the index, a security must rank in the top 150 securities by three-month average daily dollar trading value among other preferred shares on the TSX, should be rated as investment grade rating of BBB or higher, has been listed on a market for at least three full months, and is actively paying dividends. Each eligible security will be scored by dividend yield and 90-day realized volatility, with the highest yielding security ranking first and least volatile security ranking first. The ranks are then added together and the top 100 securities with the highest combined rank will be selected. Index constituents are reviewed monthly to ensure they still meet eligibility requirements, and reconstituted annually. Weighting is based on market-value, capped at 8% for the five largest issuers, and 4% for all the remaining issuers.